TD Cowen Cuts SolarEdge Technologies (NASDAQ:SEDG) Price Target to $80.00

SolarEdge Technologies (NASDAQ:SEDG) had its price objective cut by equities research analysts at TD Cowen from $85.00 to $80.00 in a research report issued on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 39.01% from the company’s current price.

Several other analysts also recently issued reports on the company. B. Riley decreased their price target on SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Janney Montgomery Scott lowered shares of SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, March 22nd. Royal Bank of Canada lowered their target price on shares of SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets decreased their price target on shares of SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, February 21st. Finally, Piper Sandler dropped their price objective on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, SolarEdge Technologies presently has an average rating of “Hold” and a consensus target price of $96.85.

SolarEdge Technologies Price Performance

Shares of SEDG opened at $57.55 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. The firm has a market cap of $3.30 billion, a PE ratio of 127.89 and a beta of 1.53. SolarEdge Technologies has a twelve month low of $53.59 and a twelve month high of $315.34. The firm’s 50 day moving average price is $64.59 and its 200 day moving average price is $74.00.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.01) by $0.60. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. As a group, research analysts expect that SolarEdge Technologies will post -4.68 EPS for the current fiscal year.

Insider Transactions at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, with a total value of $474,250.00. Following the completion of the purchase, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SEDG. Commonwealth Equity Services LLC raised its holdings in SolarEdge Technologies by 15.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,884 shares of the semiconductor company’s stock worth $762,000 after purchasing an additional 791 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in SolarEdge Technologies by 53.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 2,142 shares of the semiconductor company’s stock worth $277,000 after acquiring an additional 747 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of SolarEdge Technologies by 23.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,639 shares of the semiconductor company’s stock valued at $1,119,000 after acquiring an additional 1,663 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of SolarEdge Technologies by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 402,541 shares of the semiconductor company’s stock worth $52,133,000 after purchasing an additional 12,649 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in SolarEdge Technologies by 30.0% in the third quarter. IFM Investors Pty Ltd now owns 14,936 shares of the semiconductor company’s stock valued at $1,934,000 after purchasing an additional 3,444 shares during the last quarter. 95.10% of the stock is owned by institutional investors and hedge funds.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.